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Some Health Insurance Tips

by Lyju Kuruvilla on December 6, 2011 at 5:09 PM
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Some Health Insurance Tips

Medical expenses are sky high these days, but was never cheap ever. Even a small treatment or an appointment with a doctor might consume a lot of money. Health insurance is a must, it saves money and covers unexpected calamities. Health insurance comes in handy to meet emergencies of severe ailment or accident. Sometimes it is associated with covering disability and custodial needs. Life is unpredictable, insurance can make it safe and secure from bearing huge loss. Health insurance is affordable and carries the assurance and freedom from insecurities that threaten life now and then.

Applying for health insurance is not only quick and convenient but also cost-effective. No complex forms, some basic details are all we need to fetch you the best health policies covering pre and post hospitalization expenses, day care procedures, critical illness cover, cashless claims and tax benefits.

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The elaborate medical treatment expenses could eat into your savings meant for the future. Health insurance policies in India ensure that you get the required treatment and your pocket is still under control. Having health insurance in India is important because the coverage helps people cover the risk of financial difficulties in the event of long illness.

Health Insurance are available in two formats, individual health insurance policies and family floater health insurance. In, individual health insurance policies you are personally the owner of the policy. While in a family floater health insurance, the sponsor owns the policy and the people covered under it are called its members.
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Generally, most of the health insurance products in India have a critical illness cover, though it comes with a waiting period. Also, when you purchase a comprehensive health insurance policy, there is generally a cap on the amount payable for critical illnesses cover. In a separate critical illness plan, the amount payable is lump sum.

The main difference between a critical illness separate plan and a comprehensive plan is that while the first will give you a lump sum payment of your total sum assured in case you get admitted for a critical disease, the latter will pay only the amount spent on the treatment within the sum assured limits.

Source: Medindia
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